June 5, 2010

DOW JONES ANALYSIS AFTER CLOSING BELL


  • Dow went below 10100 in the opening bell itself. which warned what's about to come.
  • The opening bell took dow outside the rising wedge that gave the short traders good profits.
  • The down trending channel is still intact. Exactly from the top of the channel is were dow came down.
  • Dow jones weekly channel consistantly closed below 5 day EMA which showed no strength returning.
  • The last chart shows what was about to come. The negative divergance even before that near 1000 point move a day the negative divergance was clearly visible in the hourly chart.

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